Live Markets Commentary
Sify Editors @ 5:30 PM
Rs 50 profit per share on Persistent in 12 months
Persistent Systems may have shed over 20 points on the BSE on July 24 2017, but this maybe the perfect time to buy a few stocks too. HDFC Securities suggests that the scrip is poised to show growth margins in the near 12 months.
The company posted a revenue growth of $113 million with flat growth in earnings on its digital portfolio. Analysts suggested that the growth will be fueled by its digital offerings and an IBM alliance.
The scrip is expected to reach a target price of Rs 700 from its trading range of Rs 650-656.5 in the past five days on the BSE. The stock reached a high of Rs 710 on July 28 2016 and a low of 501.10 during September 28 2016.
Sify Editors @ 5:00 PM
Buy Zensar Technologies
Zensar Technologies' revenues for first quarter in the current financial year of $114.3 million have exceeded street expectations, with brokerage house HDFC securities suggesting a "buy" rating. Analysts suggest that digital forms 36.3% of revenue, and remains its key strength. More than 50% of new wins announced by the client are in the digital space.
The market price of the scrip is hovering around the range of Rs 799.95 - 809.45. The scrip' 52 week high and low have been 1136.05 on August 9 2016 and Rs 790 on July 17 2017.
The stock is expected to reach a target price of Rs. 950 in coming 12 months. The scrip ended July 24 2017 at a price of Rs 809.45.
Sify Editors @ 4:00 PM
Sensex ends at record close, Nifty nears 10,000
The NSE Nifty ended at a record closing high on Monday, coming within striking distance of breaching the 10,000 mark for the first time ever, as Reliance Industries Ltd and HDFC Bank gained after their recent earnings.
The broader index ended up 0.52 percent at 9,966.40, its highest close ever, while the benchmark BSE Sensex ended 0.68 percent up at an all-time closing high of 32,245.87.
Reliance Industries was up 1.91 percent while HDFC Bank gained 1.88 percent.
Sify Editors @ 3:30 PM
Not a flat day for BSE and NSE:
Indian benchmarks, both the BSE and the NSE ended the day in green territory, far from punter forecasts that had predicted a flat trading day.
Nifty50 was veering closer to its dream figure of 10000, but lost quick points between 2:40 - 2:55PM. It started the day on 9936.80, and ended 51.05 points or 0.52% up at 9966.40.
BSE Sensex rallied by 216.98 points or 0.68% to end the day on 32245.87.
Sify Editors @ 2:30 PM
Ambuja Cements up by 0.92%
Ambuja Cements is up by 2.45 points or 0.92% at Rs 267.75 on BSE. The stock is up by a similar margin on NSE Nifty50 too. The board has shared with the exchanges that it would consider the Q2 results and an interim dividend on July 24.
Sify Editors @ 2:00 PM
Mahindra Lifespace expected profits
Angel broking in its daily report has suggested a buy rating for Mahindra Lifespace Developers Ltd. The scrip is trading in the range of Rs. 437-438.95 on BSE. Currently it is trading 2.35 points up after opening to a high of 438.45.
The stock is estimated to reach a target price of 522 in the 12 months.
M&M's financial results are to be published in the coming week. According to market observers, a net profit of Rs 143 crore for its first quarter FY18 is expected. The expected numbers are 40% higher (Rs 87 crore) than what the company posted in its first quarter results for FY16.
Sify Editors @ 1:30 PM
Sensex at new peak, Nifty nears 10k mark
The key equity indices -- the BSE Sensex and the NSE Nifty -- traded at record highs during the mid-afternoon session on Monday, with the wider Nifty of the National Stock Exchange (NSE) trading close to the 10,000-level.
According to market observers, investors' sentiments were boosted by hopes of healthy quarterly results from index heavyweights such as Ambuja Cements and HDFC Bank, and buying in consumer durables, banking and FMCG stocks.
The wider Nifty of the National Stock Exchange (NSE) traded 52.60 points, or 0.53 per cent higher at 9,967.85 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,100.22 points, traded at 32,245.87 points -- up 216.98 points, or 0.68 per cent, from its previous close at 32,028.89 points.
The Sensex has so far touched a high of 32251.83 points and a low of 32058.33 points during intra-day trade.
The BSE market breadth was bullish with 1,437 advances and 1,084 declines.
"The benchmark indices Sensex and Nifty hit their record highs as investors kept an eye on a host of quarterly earnings scheduled for the day. Gains were, however, capped by a mixed trend seen in Asian markets ahead of the joint OPEC (Organisation of the Petroleum Exporting Countries) and non-OPEC ministerial meeting later in the day," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
"Reliance Industries hit new 52-week high, with shares of the Mukesh Ambani-led firm up as much as 2.4 per cent, after the oil and gas major announced a 1:1 bonus issue."
On Friday, the benchmark indices were buoyed by healthy quarterly results from index heavyweights such as Reliance Industries (RIL) and Wipro.
The Nifty rose by 41.95 points, or 0.42 per cent, to close at 9,915.25 points. The Sensex closed at 32,028.89 points -- up 124.49 points, or 0.39 per cent.
Sify Editors @ 1:10 PM
Positive Q1 earnings from these companies likely to ease Nifty50 to 10000
Monday, July 23 2017 looks likely as a day that the Nifty could trade in a trajectory of a five figure mark.
Both the BSE-Sensex and NSE-Nifty50 have scaled record highs. Dmart's Q1 numbers have led to a 5% surge in trade in morning session. Mumbai based Avenue Supermarkets reported a net profit of Rs 174.78, 47.56% up over Q1 results posted in Fy16. Currently the stock is trading 15.55 points or 1.70% up at 929.45 a share, from its opening on 938.20 on the BSE.
The Nifty50 was trading 46.20 points or 0.47% up at 9961.45 at 12:30 PM. Of the 50 stocks, 19 were in the red. Dr. Reddys (down by 2.29%), Zee Entertainment (1.27%), ONGC (1.13%) and Vedanta (0.86%) were at the bottom of the red stocks.
Reliance Industries (up by 2.39%), Wipro (2.10%), Bank of Baroda (1.95%), ITC (1.61%), and ACC (1.55%) were the stocks in the green.
More such earning reports are expected to be announced as the day progresses, and these would have a rub-on effect on the Nifty50 index. Updates in the day coming from Ambuja Cements and HDFC Bank should also ease Nifty's path to 10000.
HDFC Bank has been trading 1.49% up at a price of Rs 1728.40 per share. The stock already soared to its 52 week high of 1748 on July 10. A result today would only give it a new high.
Ambuja Cements too was in the green by 0.62%. Shares are trading at Rs 267.80 a share.
Besides Monday, investors can also look at stocks such as Asian Paints, Axis Bank and Federal Bank that will update their Q1 reports on July 25.
In the next two days, positive numbers are also expected from Yes Bank, Nestle, Dr. Reddys, Biocon, Novartis, Glenmark, HCL Technologies, ICICI Bank, Idea Cellular, IDFC Bank, Indusind bank, ITC, Maruti Suzuki, and ONGC.
Sify Editors @ 12:45 PM
HDFC Bank Q1 net profit rises, but lags estimates
HDFC Bank , India's second-biggest lender by assets, on Monday reported a 20 percent increase in its first-quarter profit, missing analysts' estimates.
Net profit rose to 38.94 billion rupees ($604.31 million) in the quarter ended June 30, from 32.39 billion rupees a year ago, India's most-valuable bank said on Monday.
That compares with an average estimate of 39.38 billion rupees from 21 analysts polled by Thomson Reuters.
Gross non-performing loans as a percentage of total loans rose to 1.24 percent at end-June, from 1.05 percent at end-March.
Sify Editors @ 12:00 PM
Bharti Airtel rebounds; JioPhone not seen too disruptive
Bharti Airtel gains 0.8 pct after earlier falling as much as 1.3 pct; Idea Cellular sheds 2.8 pct.
Airtel shares fell about 2 pct on Friday, while Idea Cellular dropped over 3 pct after rival Reliance Jio, the Mukesh Ambani-backed mobile carrier, unveiled JioPhone, a "zero cost" 4G-enabled device.
"While refundable, the cost of acquiring the device is not game changing when compared against existing feature phone prices" - Jefferies says.
The 153 rupees per month plan too compares favorably against the 142-158 rupee average revenue per user across the top three carriers - Jefferies.
Shares of Reliance Industries, Reliance Jio's parent company, up as much as 2.4 pct.
Sify Editors @ 11:30 AM
Lupin stocks up by 9 points
Lupin, the pharmaceutical drug manufacturer, saw its scrip price trade up by 9 points after it shared with the exchange news of a successful USFDA inspection. The FDA inspected Lupin's manufacturing facility located in Goa.
The stock was trading at Rs 1152.60, 9.75 or 0.85% up from opening at 1165.75. The 52 week high and low of the scrip have been Rs 1750 on July 29 2016 and 1036.80 on July 5 2017 respectively.
Sify Editors @ 10:55 AM
Avenue Supermarts shines as bulls go shopping after buoyant results
Shares of Avenue Supermarts Limited hit record high this morning, with the company's impressive first quarter results triggering strong buying at the counter.
Avenue Supermarts Limited reported a net profit of Rs 174.78 crore for the quarter ended June 2017. That was up 47.56% compared to its net profit in the year-ago quarter. Total income of the Mumbai-based company, which owns and operates D-Mart stores, increased 36.27% to Rs 3620.96 crore in the April - June 2017 quarter, over the year-ago quarter.
Earnings before interest, depreciation and amortization (EBITDA) increased 29.2% to Rs 303 crore in the first quarter and the EBITDA margin was down 8.4%, compared to preceding quarter.
The company's strategy of 'everyday low cost - everyday low price', that aims at procuring goods at competitive price and using operational and distribution efficiency in order to deliver value for money to customers helped in lifting revenues.
Following a highly successful Initial Public Offer that hit the market in early March this year, the Avenue Supermarts opened its account on the Indian bourses with a bang, with the stock ending its maiden session with a hefty 114.3% gain on 21 March 2017. The IPO, which opened with a price band of Rs 295 - 299 per share, was oversubscribed almost 105 times. The company mopped up Rs 1870 crore through the issue. It had raised Rs 561 crore through allotment of shares to anchor investors as part of the anchor book allocation.
The sparkling debut of the stock saw the promoter of the company Radhaishan Damani move past the likes of Rahul Bajaj, Anil Agarwal and Anil Ambani in the country's billionaire list. The promoter Damani's networth soared to about $6 million following those impressive sessions.
Sify Editors @ 9:20 AM
The Sensex in the Green
The Sensex of the BSE, which opened at 32,100.22 points, was trading at 32,082.51 points , higher 53.62 points or 0.17 per cent from Friday's close at 32,028.89 points.
The Sensex touched a high of 32,135.91 points and a low of 32,069.83 points in the trade so far.